FWP 1 tm2116823d4_fwp.htm FWP

 

Filed Pursuant to Rule 433

Registration Statement No. 333-228295

 

Free Writing Prospectus

(To the Preliminary Prospectus Supplement dated May 25, 2021 and Prospectus dated November 9, 2018)

 

 

 

May 25, 2021

 

US$1,450,000,000 1.150% Notes due June 3, 2026

US$300,000,000 Floating Rate Notes due June 3, 2026

US$1,000,000,000 2.150% Notes due June 3, 2031

   
US$1,450,000,000 1.150% Notes due June 3, 2026  
   
Issuer: Westpac Banking Corporation
   
Principal Amount: US$1,450,000,000
   
Ranking: Senior Unsecured
   
Expected Ratings: Aa3/AA- (Moody’s/S&P Global Ratings)*
   
Format: SEC Registered Global Notes
   
Trade Date: May 25, 2021
   
Settlement Date: June 3, 2021 (T+6)
   
  Since trades in the secondary market generally settle in two business days, purchasers who wish to trade notes on the date hereof or the next three succeeding business days will be required, by virtue of the fact that the notes initially settle in T+6, to specify alternative settlement arrangements to prevent a failed settlement.
   
Maturity Date: June 3, 2026
   
Interest Rate: 1.150%
   
Price to Public: 99.923%
   
Benchmark Treasury: UST 0.750% due April 30, 2026
   
Benchmark Treasury Price and Yield: 99-29+ / 0.766%
   
Re-offer Spread to Benchmark Treasury: plus 40 basis points
   
Re-offer Yield: 1.166%

 

 

 

 

Fees: 25 basis points
   
All-in Price: 99.673%
   
Interest Payment Dates: Payable semi-annually in arrears on June 3 and December 3 of each year, commencing December 3, 2021, and ending on the Maturity Date, subject to Business Day Convention.
   
Day Count Convention: 30/360, unadjusted
   
Net Proceeds: US$1,445,258,500
   
Business Days: Each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in Sydney, Australia, New York, New York, or London, United Kingdom are authorized or obligated by law or executive order to close
   
Business Day Convention: Any payment of principal, premium and interest required to be made on an Interest Payment Date that is not a Business Day will be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after the Interest Payment Date to the date of payment on the next succeeding Business Day
   
Denominations: Minimum of US$2,000 with increments of US$1,000 thereafter
   
CUSIP: 961214 ER0
   
ISIN: US961214ER00

 

Joint Active Bookrunners: BofA Securities, Inc.
  Citigroup Global Markets Inc.
  Morgan Stanley & Co. LLC
  RBC Capital Markets, LLC
  Westpac Banking Corporation

 

 

 

 

US$300,000,000 Floating Rate Notes due June 3, 2026

 

Issuer: Westpac Banking Corporation
   
Principal Amount: US$300,000,000
   
Ranking: Senior Unsecured
   
Expected Ratings: Aa3/AA- (Moody’s/S&P Global Ratings)*
   
Format: SEC Registered Global Notes
   
Trade Date: May 25, 2021
   
Settlement Date: June 3, 2021 (T+6)
   
  Since trades in the secondary market generally settle in two business days, purchasers who wish to trade notes on the date hereof or the next three succeeding business days will be required, by virtue of the fact that the notes initially settle in T+6, to specify alternative settlement arrangements to prevent a failed settlement.
   
Maturity Date: June 3, 2026
   
Price to Public: 100.000%
   
Interest Rate: The interest rate on the Notes for each period will be equal to Compounded SOFR (as defined herein) plus the Margin.
   
Compounded SOFR: A compounded average of daily SOFR determined for each quarterly floating rate Interest Period in accordance with the specific formula described under “Description of the Notes—Floating Rate Notes—Secured Overnight Financing Rate” in the Preliminary Prospectus Supplement.
   
Margin: plus 52 basis points
   
Fees: 25 basis points
   
All-in Price: 99.750%
   
Interest Periods: Each quarterly period from, and including, a floating rate Interest Payment Date (or, in the case of the first floating rate Interest Period, June 3, 2021) to, but excluding, the next floating rate Interest Payment Date (or, in the case of the final floating rate Interest Period, the Maturity Date).
   
Interest Payment Dates: Payable quarterly in arrears on March 3, June 3, September 3 and December 3 of each year, commencing September 3, 2021, subject to Business Day Convention
   
   
Interest Payment Determination Date: The date two U.S. Government Securities Business Days before each floating rate Interest Payment Date.
   
Observation Period: In respect of each floating rate Interest Period, the period from, and including, the date two U.S. Government Securities Business Days preceding the first date in such floating rate Interest Period to, but excluding, the date two U.S. Government Securities Business Days preceding the floating rate Interest Payment Date for such floating rate Interest Period.

 

 

 

 

Day Count Convention: Actual/360
   
Net Proceeds: US$299,250,000
   
Business Days: Each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in Sydney, Australia, New York, New York, or London, United Kingdom are authorized or obligated by law or executive order to close.
   
Business Day Convention: If any Interest Payment Date would fall on a day that is not a Business Day, other than the Interest Payment Date that is also the date of maturity for the notes, that Interest Payment Date will be postponed to the following day that is a Business Day, except that if such next Business Day is in a different month then that Interest Payment Date will be the immediately preceding day that is a Business Day.
   
  If the date of maturity is not a Business Day, payment of principal and interest will be made on the following day that is a Business Day and no interest will accrue for the period from and after such date of maturity.
   
Denominations: Minimum of US$2,000 with increments of US$1,000 thereafter
   
CUSIP: 961214 ES8
   
ISIN: US961214ES82
   
Joint Active Bookrunners:  
  BofA Securities, Inc.
  Citigroup Global Markets Inc.
  Morgan Stanley & Co. LLC
  RBC Capital Markets, LLC
  Westpac Banking Corporation

 

 

 

 

US$1,000,000,000 2.150% Notes due June 3, 2031

 

Issuer: Westpac Banking Corporation
   
Principal Amount: US$1,000,000,000
   
Ranking: Senior Unsecured
   
Expected Ratings: Aa3/AA- (Moody’s/S&P Global Ratings)*
   
Format: SEC Registered Global Notes
   
Trade Date: May 25, 2021
   
Settlement Date: June 3, 2021 (T+6)
   
  Since trades in the secondary market generally settle in two business days, purchasers who wish to trade notes on the date hereof or the next three succeeding business days will be required, by virtue of the fact that the notes initially settle in T+6, to specify alternative settlement arrangements to prevent a failed settlement.
   
Maturity Date: June 3, 2031
   
Interest Rate: 2.150%
   
Price to Public: 99.937%
   
Benchmark Treasury: UST 1.625% due May 15, 2031
   
Benchmark Treasury Price and Yield: 100-20 / 1.557 %
   
Re-offer Spread to Benchmark Treasury: plus 60 basis points
   
Re-offer Yield: 2.157%
   
Fees: 35 basis points
   
All-in Price: 99.587%
   
Interest Payment Dates: Payable semi-annually in arrears on June 3 and December 3 of each year, commencing December 3, 2021, and ending on the Maturity Date, subject to Business Day Convention.
   
Day Count Convention: 30/360, unadjusted
   
Net Proceeds: US$995,870,000
   
Business Days: Each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in Sydney, Australia, New York, New York, or London, United Kingdom are authorized or obligated by law or executive order to close.
   
   
Business Day Convention: Any payment of principal, premium and interest required to be made on an Interest Payment Date that is not a Business Day will be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after the Interest Payment Date to the date of payment on the next succeeding Business Day

 

 

 

 

Denominations: Minimum of US$2,000 with increments of US$1,000 thereafter
   
CUSIP: 961214 ET6
   
ISIN: US961214ET65
   
Joint Active Bookrunners:  
  BofA Securities, Inc.
  Citigroup Global Markets Inc.
  Morgan Stanley & Co. LLC
  RBC Capital Markets, LLC
  Westpac Banking Corporation

 

 

 

 

Free Writing Prospectus

(To the Preliminary Prospectus Supplement dated May 25, 2021 and Prospectus dated November 9 2018)

 

 

 

*A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

 

No PRIIPs KID – No PRIIPs key information document (KID) has been prepared as not available to retail in EEA or the United Kingdom.

 

The Issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc. toll-free at 1-800-294-1322, Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, RBC Capital Markets, LLC toll-free at 1-866-375-6829 or Westpac Banking Corporation at 1-212-389-1269.